Redstone Won’t Sell Viacom, CBS

Oct 23, 2008  •  Post A Comment

Despite recent stock sales, Sumner Redstone says there’s “not a chance” he will part with the media companies he controls, CBS and Viacom, the Wall Street Journal reports. Redstone sold $233 million in non-voting stock in the two companies because of debt problems at his National Amusements. But he called Viacom and CBS “great companies,” adding “we have no intention to sell any more stock and I’m decisive about that.”
— Jon Lafayette

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